Tag Archives: property managers

Holding an Open House Saves Time & Money!

In my dreams I fill my vacant units with the best tenants on earth who pay their rent on time, keep the apartment clean, and never move out.  But unfortunately my dreams aren’t reality.

When I’m looking to fill a vacancy I prefer to show the unit like I would an open house.  I’ll pick a day, say Saturday, and set aside a period of time for propsective tenants to view the unit.  For example:  Open House, Saturday, 2-4pm!

I’ll tell as many prospective tenants to come on that same day and time too.  This helps create a sense of urgency and competition amongst the fellow renters visiting the property.  Plus it saves me time from having to meet prospective renters at different times and different days.

By creating a buzz, prospective renters feel the unit is special, limited, and could be rented in a blink of an eye.  This is their chance to grab it before anyone else does.  You never want to eat at an empty restaurant, do you?  Well you don’t want to live at an apartment that no one else is interested in either.

The prospective tenants that are interested will fill out an application right there and then.  Depending on which property I am at, I can also run their credit report on the spot (I check eviction, criminal and some other stuff too).  For screening providers I’ve used and others, click here.

Landlord Quick Tip!

Re-Key- Without the Fee!

 
Submitted by real estate expert Eleanor Trainor
Re-keying? It’s so expensive— but here’s an awesome new product:

Here in the City of Seattle, it is required that the locks be changed between tenants.

 
Our local locksmiths often charge at very least a $79 trip fee, plus $12-15 per cylinder to change the locks. Yikes! (My company, Rental Restoration, charges a flat $92.50.)

Kwikset has developed a new secure cylinder that anyone can change with the tool that comes with the cylinder.

 
This would be great for high-turnover units and multi-family buildings. More information is here: http://www.kwikset.com/SmartKey/
Very cool! 
 
Eleanor Trainer is with Rental Restoration, the only independent full-service maintenance contracting firm in Puget Sound that focuses solely on serving property managers and rental property owners.